Tshakhuma Tsha Madzivhandila (TTM) CEO Sello Chokoe says the club will not be retaining the services of head coach Gavin Hunt.
Chokoe completed the takeover of Bidvest Wits on Saturday, which included a name change, and has revealed that Hunt is too expensive for TTM and has been told he is free to find employment elsewhere.
"Coach Gavin Hunt is highly respected and a good coach but unfortunately we won't be able to afford him hence we said he can look for a job elsewhere," Chokoe told TimesLIVE.
"We will also not be taking any of the current staff members of Wits because we have people who are currently working for TTM."
Chokoe added that some of the Wits players will be sold as their salaries are also too much for TTM at this stage.
"We bought the club with its players and we are aware that there are those who already have offers. We will allow them to join teams of their choice and we will be working with the current Wits management to facilitate those deals," Chokoe added.
"We can't hold on to players. Some of them were on big salaries and if you consider that we have just spent a lot of money buying this club‚ we will let them go."
- TEAMtalk media